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Statements

Subject Item
n2:RIV%2F00216208%3A11690%2F13%3A10209963%21RIV14-MSM-11690___
rdf:type
n7:Vysledek skos:Concept
rdfs:seeAlso
http://dx.doi.org/10.1016/j.ecolecon.2013.07.012
dcterms:description
Preference for reducing risks can be affected by individual-assessed risk attributes that are rarely controlled in valuation studies. This paper explores reasons for differences in preferences for mortality risk reductions (if any), and establishes the magnitude of the effects of such risk attributes as compared to other sources of Value of a Statistical Life (VSL) heterogeneity. In our conjoint choice experiments, cause of death, the size of the risk reduction, and latency, the %22price%22 of the risk reduction and the mode of delivery of the risk reduction are explicit attributes of the alternatives to be examined by the respondent. Our statistical models also control for actual and perceived exposure to risks, initial risks, risk attributes such as dread, and sensitivity to and controllability of specific risks. We find that there is significant heterogeneity in the valuation of mortality risks and thus in the VSL. The VSL increases with dread, exposure to risk, and the respondents' assessments of the baseline risks. It is higher when the risk reduction is delivered by a public program, and increases with the effectiveness rating assigned by the respondent to the mode of the risk reduction. Even when we control explicitly for all of these factors, the cause of death per se accounts for a large portion of the VSL. All else the same, the fact that the cause of the death is %22cancer%22 results in a VSL that is about one million euro above the amount predicted by dread, exposure and other risk perception variables. The VSL in the road safety context is about one million euro less than what is predicted by dread, exposure, or beliefs compared to VSL for the respiratory risk context. The effect of cause of death is thus as large as the effect of other sources of VSL heterogeneity. Our respondents do not seem to discount future risks. Preference for reducing risks can be affected by individual-assessed risk attributes that are rarely controlled in valuation studies. This paper explores reasons for differences in preferences for mortality risk reductions (if any), and establishes the magnitude of the effects of such risk attributes as compared to other sources of Value of a Statistical Life (VSL) heterogeneity. In our conjoint choice experiments, cause of death, the size of the risk reduction, and latency, the %22price%22 of the risk reduction and the mode of delivery of the risk reduction are explicit attributes of the alternatives to be examined by the respondent. Our statistical models also control for actual and perceived exposure to risks, initial risks, risk attributes such as dread, and sensitivity to and controllability of specific risks. We find that there is significant heterogeneity in the valuation of mortality risks and thus in the VSL. The VSL increases with dread, exposure to risk, and the respondents' assessments of the baseline risks. It is higher when the risk reduction is delivered by a public program, and increases with the effectiveness rating assigned by the respondent to the mode of the risk reduction. Even when we control explicitly for all of these factors, the cause of death per se accounts for a large portion of the VSL. All else the same, the fact that the cause of the death is %22cancer%22 results in a VSL that is about one million euro above the amount predicted by dread, exposure and other risk perception variables. The VSL in the road safety context is about one million euro less than what is predicted by dread, exposure, or beliefs compared to VSL for the respiratory risk context. The effect of cause of death is thus as large as the effect of other sources of VSL heterogeneity. Our respondents do not seem to discount future risks.
dcterms:title
Exploring heterogeneity in the value of a statistical life: Cause of death v. risk perceptions Exploring heterogeneity in the value of a statistical life: Cause of death v. risk perceptions
skos:prefLabel
Exploring heterogeneity in the value of a statistical life: Cause of death v. risk perceptions Exploring heterogeneity in the value of a statistical life: Cause of death v. risk perceptions
skos:notation
RIV/00216208:11690/13:10209963!RIV14-MSM-11690___
n7:predkladatel
n18:orjk%3A11690
n3:aktivita
n16:I
n3:aktivity
I
n3:cisloPeriodika
October 2013
n3:dodaniDat
n9:2014
n3:domaciTvurceVysledku
n13:4463145
n3:druhVysledku
n19:J
n3:duvernostUdaju
n20:S
n3:entitaPredkladatele
n5:predkladatel
n3:idSjednocenehoVysledku
74308
n3:idVysledku
RIV/00216208:11690/13:10209963
n3:jazykVysledku
n14:eng
n3:klicovaSlova
dread; road safety; respiratory illness; cancer risks; Risk attributes; Cost-benefit analysis; Mortality risk reductions; Discrete choice experiments; Value of a Statistical Life (VSL)
n3:klicoveSlovo
n4:Mortality%20risk%20reductions n4:respiratory%20illness n4:Value%20of%20a%20Statistical%20Life%20%28VSL%29 n4:Discrete%20choice%20experiments n4:road%20safety n4:cancer%20risks n4:Cost-benefit%20analysis n4:dread n4:Risk%20attributes
n3:kodStatuVydavatele
NL - Nizozemsko
n3:kontrolniKodProRIV
[20DAE3F7096C]
n3:nazevZdroje
Ecological Economics
n3:obor
n12:AH
n3:pocetDomacichTvurcuVysledku
1
n3:pocetTvurcuVysledku
2
n3:rokUplatneniVysledku
n9:2013
n3:svazekPeriodika
94
n3:tvurceVysledku
Ščasný, Milan Alberini, Anna
n3:wos
000325588500016
s:issn
0921-8009
s:numberOfPages
13
n15:doi
10.1016/j.ecolecon.2013.07.012
n17:organizacniJednotka
11690